https://www.taxtmi.com/caselaws?id=285652 The ITAT upheld the CIT(A)'s decisions to delete disallowances related to business promotion expenses, amortization of premium, and interest on NPAs. The expenses were deemed necessary for maintaining goodwill and business continuity, while the amortization was in line with RBI guidelines. The non-recognition of interest on NPAs followed RBI guidelines for scheduled banks. The ITAT dismissed the revenue's appeal, citing consistent accounting practices and adherence to legal principles. en-us Tue, 18 Jun 2019 00:00:00 +0530 Thu, 08 Sep 2022 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285652 The ITAT upheld the CIT(A)'s decisions to delete disallowances related to business promotion expenses, amortization of premium, and interest on NPAs. The expenses were deemed necessary for maintaining goodwill and business continuity, while the amortization was in line with RBI guidelines. The non-recognition of interest on NPAs followed RBI guidelines for scheduled banks. The ITAT dismissed the revenue's appeal, citing consistent accounting practices and adherence to legal principles. Case-Laws Income Tax Tue, 18 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285652